Investors Purchase Large Volume of Beyond Meat Call Options (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the recipient of unusually large options trading on Tuesday. Investors bought 25,683 call options on the company. This represents an increase of 62% compared to the typical volume of 15,863 call options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BYND. Vontobel Holding Ltd. grew its position in shares of Beyond Meat by 128.7% during the 4th quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock worth $4,899,000 after purchasing an additional 733,168 shares in the last quarter. Millennium Management LLC grew its stake in shares of Beyond Meat by 73.8% during the fourth quarter. Millennium Management LLC now owns 619,957 shares of the company’s stock worth $2,331,000 after buying an additional 263,337 shares during the last quarter. Rhumbline Advisers grew its position in Beyond Meat by 61.2% during the 4th quarter. Rhumbline Advisers now owns 131,327 shares of the company’s stock worth $494,000 after acquiring an additional 49,875 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Beyond Meat by 305.1% in the fourth quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company’s stock valued at $30,000 after buying an additional 5,940 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Beyond Meat in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Stock Down 0.7%

Shares of NASDAQ:BYND traded down $0.03 during midday trading on Tuesday, reaching $3.41. The company had a trading volume of 952,030 shares, compared to its average volume of 2,899,697. The stock has a market cap of $260.38 million, a PE ratio of -0.82 and a beta of 2.15. Beyond Meat has a 1-year low of $2.23 and a 1-year high of $9.24. The business’s 50 day moving average price is $2.75 and its 200 day moving average price is $3.45.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Wednesday, May 7th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.15). The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.84) EPS. On average, research analysts expect that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Barclays reduced their target price on shares of Beyond Meat from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Thursday, May 8th.

Beyond Meat Company Profile

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.